Stocks closed in positive territory as initial jobless claims numbers came out slightly better than expected.
The IPO (initial public offering) of professional social networking site LinkedIn helped buoy the markets as the stock doubled on its first day of trading.
Treasury bonds closed flat and oil and Gold were little changed (closing under $100 / barrel and $1,500 / ounce respectively).
Chatter continued about possible replacements for DSK at the helm of the IMF with France's Christine Lagarde seemingly the front-runner (for now).
Corporate credit traded somewhat heavy into the close (despite a morning rally) with a couple of dealers in risk-reduction mode as Japan's GDP numbers pointed to the obvious: a recession that is worse than expected.
Fears about Europe's sovereign situation are not helping and scarily few are factoring in the devastating economic effects of a Chinese blow-up.
Latin America appears to be one of the few relative safe havens (aside from the U.S. economy) with Latin American corporate issuers taking advantage of low rates and an improved credit profile for the region to tap the bond markets.
Africa also comes to mind; this player attended a reception featuring the former Tanzanian President Ali Hassan Mwinyi as the guest of honor.
In this author's mind the dinner helped crystallize Africa's long-term allure as another safe haven from the choppy markets.
Tanzania has an educated (and young) population with a thriving commercial culture and savvy business elite.
With its recent discovery of natural gas and structural issues facing neighboring Kenya, Tanzania is well placed to power ahead as a gateway hub to East Africa's thriving market.
In corporate bond new issues, Chrysler tapped the markets selling $1.5 billion of 8 year debt at +524 and $1.7 billion of 10 year bonds at +506.
International Lease Finance Corp, freshly upgraded to investment grade, tapped the markets selling $1.25 billion of 8 year debt at +308 and $1 billion of 5 year bonds at +393; this name is one of this player's favorite "rising angel" trades.
Banco Brasil sold $1.5 billion of bonds at +287.5.
Blackrock, sold $1.5 billion to fund its purchase of Bank of America's stake in the company: $750 million of 10 year debt at +115 and $750 million of 2 year FRN (floating rate note) bonds at +30.
Comision Federal de Electricidad, a utility wholly owned by Mexico, sold $1 billion of 10 year bonds at +180.
US Bancorp tapped the markets and sold $1 billion of 10 year debt at +97.